Indianapolis Times, Indianapolis, Marion County, 22 November 1940 — Page 24

16. E. Will Share Eight Million

SCHENECTADY, N. Y., Nov. 22 (U. P.).—General Electric Company will distribute approximately $8,000,000 to 66,000 employees eligible to participate in the company’s profitsharing and cost-of-living plans for 1940, Charles E. Wilsdn, president, announced today.’ A year ago the company disbursed $5,019,000. Regular earnings of employes with five or more years’ service will be increased about 7 per cent this year,

HOUSING COST-. AT FT. WAYNE SETS NEW LOW

$1830 Spent on Each. Uriit At Westfield Village, FHA Reports.

IN STATE RISE EIGHT PER GENT

Auto Dealers Report Best Gain to Department Of Commerce.

Aircraft Industry Undertaking

Spectacular Expansion Program

AL By ROGER BUDROW

AMERICAN AIRCRAFT MANUFACTURERS are now undertaking the most spectacular expansion program in the industrial history of the nation, according to the Wall Street

* winter.

“Chile (introduced last winter).

Jboxes than in 1939, Dun & Brad-

Journal. Because the giant task

the blueprint stage, it is difficult for the average man to

is partly done and partly in

realize that industry is exceeding even the rapid strides made by. the railroad and automobile industries when they

were growing into maturity. Shifting. into higher and higher today, the aircraft makers are turning out as many military planes, each month now as they { built in ‘a whole | year. during 1937 | and 1938, Gas- ' ton E. Marque | writés in the | Journal. | And it isn’t | being done hy | pressing buttons. As Allison officials here realize, it takes time to train skilled w o r kmen. The whole ‘industry h a s had the same problem and will have it as long as the factories grow. More than 110,000 are now employed compared to 30,000 two years ago. Between Sept. 8, 1939, and July of this year manufacturers spent 52 million dollars on new plant facili-

Roger Budrow

COLD WEATHER BOOSTS TRADE

Sales at 7 to 10 Per Cent Ahead of Last Year, Authority Says.

NEW YORK, Nov. 22 (U, P.), — Favorable weather stimulated retail trade this week and widened the volume gain over the corresponding year-ago period, Dun & Bradstreet, Inc, said today, in its weekly report. The authority noted that Christmas buying was off to an early

ties, according to an Aeronautical {Chamber of Commerce survey. And “the industry will turn out orders ‘worth 600 million dollars this year compared to about 130 million two Wears ago. - A military airplane is more dif“ficult to manufacture than an automobile, Mr. Marque points out, be‘cause of the tremendously high speeds and performance required. Another difficulty is that instead of working an entire season on one model, as the auto firms do, changes are made as frequently as the European war or tests in this country demonstrate the desirability of an improvement. ” ” ” : ARRIVAL OF BRAZILIAN pineapples at New York last week may be a forerunner of increasing food supplies from South America, Business Week believes. Brazilian pineapples come into season about the time the Hawaiian variety goes out, -have a distinctive flavor and are even larger than Puerto Rican pineapples usually seen in the U. 8. in

Also on the way up here is a darge consignment of hams from Uruguay, said to be comparable with the quality of Polish ham, no Jonger obtainable. Other products entering the fancy food market in‘elude pears, grapes and triple-con-tentrated tomato paste from Argen‘tina, “Brazilian golden” bananas and extra-large fancy apples from ”

H ~ ODDS AND ENDS: B. F. Good-

fich engineers say one out of every three motorists buys a new, fan belt “each year and the belts which lasted an average of | 25,000 miles .0 years ago last 30,000 miles on an average today. . . . Air express shipments are up 23 per cent over last year. . . . Because production and distribution of commodities is increasing, paper box manufacturers are selling 5 to 15 per cent more

street reports. . . . Cost of living in Canada has gone up 5 per cent since the war started, according to the Dominion Bureau of Statistics.

ELECTRICITY OUTPUT

HIGHEST ON REGORD &:

“ NEW YORK, Nov. 22 (U, P.).— ‘Electricity production in- the holi-iday-week ended Nov.’'6 rose to the ‘highest level on record, the Edison {Electric Institute reported today. ! Output for the latest week, which Included the Armistice Day holiday, amounted to 2,751,528,000 kilowatt hours, an increase of 9.4 per cent over the 2,514,350,000 K.W H. generated in the corresponding 1939 week. In the preceding holiday-week production totaled 2 719,501, 000 K.W.H., gain of 8.2 per cent over a year jearlier,

(ll Dealers JITTITHIA

FIRE-CASUALTY AUTOMOBILE INLAND MARINE INSURANCE for Careful Property Owners at Substantial Savings

Wa. 2456

.| fat lambs, $9.3 , white-face feeding

start, but it said that these purchases were a relatively minor factor in the sales volume of most stores this week. ; Retail volume for the country as a whole was placed at 7 to 10 per cent above the corresponding 1939

period, compared with a year-to-|4m™ year gain of 5 to 8 per cent in the|A

previous week.

. A “Cold weather gave impetus to

the seasonal upswing at retail, enabling many merchants to chalk up sales gains over the preceding week despite the inclusion in that period of exceptionally good Armistice Day results,” the trade authority said. _ “Although the holiday shopping season was not officially opened, city stores reported strong .early inter-

est in gift purchases buying extend- |g arber e

ed over a wide variety of merchandise including handbags, lingerie, costume jewelry, hosiery and occasional furniture pieces.” Improvement in retail turnover in the past two weeks was said to have been “more marked in winter clothing than in any other regular lines.”

LOCAL ISSUES

The {ollowing iolesions by the Indianapolis Bond & Corp. do not represent actual price of offerings, but merel indicate the approximate market Ileve based on buying and selling quotations of recent transactions. Stocks Bid Ask Agents Finance So som. eee Ta 9 Belt RR & Stk Y. 56 Belt RR _& Sty Cas ‘bid Baer Central Ind Low 1% 1% pid n

L 6 Hepls P ned Water 5% ince in

Ind Pub Serv it pfd. Progress Laundry co Pub Serv: Co of Ind 80 pfd.. Pub Serv Co of Ind 7% pfd.. 30 Ind G&E 4.8% pid .

T Van Camp Milk pid . Van Camp Milk com J Bonds American Loan 58 51 «.ieveee. 99

ROO

ndpls s ndpls Railway Inc 5s oa ndpls Water Co 34s 8 nterstate ALE Hla -~ okomo ater ter Wo ork . Kuhner Packing Co 4%s 0. pee jo Morris 5&10 Stores 3 Muncie Water Works 5 . 104% Nai Silk Hosiery 5s a 97 N Ind Pub Sexy 3%s 69.. s

CVO -TWW I JID OWN PO NDWN

Bok fd fd fd Fd ond od fd pd fu feb od fd fb nd ed ND

14 Trac Term €orp 5s 5 nei

CHICAGO LIVESTOCK

tol Ft feceipts, 12,000; opened - stron cents Be Closed activ ve to. fu

svance: top, an ice, Ibs, op 6, 1 ae Fh no To3 0. ib 0 80s. 20; ihe

hman t 7 Oil Ref. . 11% , | Lockheed Aireft 204 2

RS, 3 Tew 50, but mostly $9@10; post holiday on Soo cattle, very slow Sheep—Receipts, 6000; late Wednesday generally stea feeding lambs firm; top sparin Me ood to choice fed yearlings, $7.85 oad Montana

trade fat lambs,

sheen scarce. stbady; one load handyweight Mon

Jeariinge, $8.40; odd head native ewes,

$3 : OTHER LIVESTOCK

nd... Nov. 23 (U, 230-240 Ibs. 6. 0; 2 2008. Gy 180 35% 08; 260-2 0 1bs., Ei 88:

Hous:1oc ? hiker: 220 38 98:

tags,

(U. Py. Horses ; , 5050; holdovers, 100; higher; top, $6.35: 100-140 ibs. 8. [email protected]; most good 3 a sOWS, $5 Cattle—Salable, 600; total, 750. Calves— 350. Bulk steers and heifers, [email protected]; load 940-1b. steers 2 $8.25; best here around 700-1b.

steer 500. Supply

$10. Sheep—Salable ik total, med wholly 2 25 cents lower: common and fet @8.50; culls down to around

, | Davison Chem. Del & Hud....

2 | Flintkote

t 4 |Int P

The rapid strides being made in durable goods industries, as shown by the chart prepared by the ‘Magazine of Wall Street, will give America more machines—*a physical wealth which is permanent”—to help us ‘hold our own in post-war trade competition.”

SEASONAL Co

“Net Figh Low Last Change Allied Stores .. 7% 7% is-Ch 35%

bla

Kk)

C300 ih Dd ox. 5 COM 00 Bh DL

I CIIDIA DAI aT IH es < NS

n Atchison pf ... Atlas Corh tees

DORNO FAC aN Ww

Ha r RRs klyn-M Nye Br “Erie .

J urToughs cease

— ho

thet BORD 4 QOL he SEE e Ne

Lo Ld pt a FSS

Callahan Zine . 1% Can Pa fife Caterpi

Certaln' ir | fa

on” Rr % ie Chi Rr 1& Pint 3 16 Chrysler 781 . City I & Clitnax Moly Co 3017 Colum Gas Col Gas pf A.. Com Credit .... i Com Sofvents ve Comwlth & Comwithage pt 5114 Comwlth Edison 28% Cons Aircraft .. 24 Cons Coppernms th, Cons Edison . Cons Cons Oil Cont Cont Cont Can Cont Cont Ins

8% 6%a 3

Pont .....159

Elec Boat ..... 18% 15, Bee Pwr hoy Lt 415 4 w& L $6 pf 27% 213% Da Prod .. 8% 83

Falr, The Fair Morse ... Fed Min & 8. Firestone T ...

Gen en n

FEES

SS nyear “Paige . Green H L Grumman AE

NS | 52.52.82 oT |

Ham Watch ... Hayes MIgZ ¢o.e

13%

15% % Th

a a

Inland StI ..... 90 90 Interlake Ir .. 10! 1072 Int M Marine.. 9s Int Nickel .... 28%: 26% In 3h

. Ss 08 aaa

THERE +

. >.

Int shoe

eden

sess 35% Sp

1, LA 0

Kennecott

eh V Coal .

> - . .

-. Ne

SHELF oe

LO0W’ Loft Us Lone Star Cem . 38% Lorillard G&E A ,, 19s

Lou

gant sug Marshall Fid '. Martin (Glenn. 33 Marin Parry

. . Ge Re

cCrory of cKessen & PR

0-K Tex

DHTEH HEE

$7 1 Ia iv Fig

Newport Ind ... 9 )

AI YCRF ARO ..coovviviasssnens 148.47

® | Wednesday

4| Pan Am Airway

751 RED ya | RED st bt A. , Reyn

y ob B... A Richfield Oil ..

A Texas Corp ...

N. Y. STOCKS

By UNITED PRES®

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Wednesday ...... dasesseeess 133.93 Week AZO siivevessssnscsce. 135.59 Month Ago .....e0000000e0.. 131.16

-—2.26 —1.38 -0,20 -1.87 High (1940), 152.80; Low, 111.84. High (1039), 155.92; Low, 121.44. 20 RAILROADS 29.18 Week Ago . 29.93 Month Ago .. 28.57 Year Ago 32.93 High (1940), 32.67; Low, 22.14. High (1939), 35.90; Low, 24.14. 15 UTILITIES Seen Sevnnev ee 30.42 21.06 22.67 25.41 03. lL.

Wednesday Week Ago Month Ago . Year Ago High (1940). 26.45; Low, 18. High (1939), 27.10; Low, 20.

cesses

Net High Low Last Change 1% 5s 14% 14% + Ys

Va 17% vast 17% 17% / —(Pn 17% 17% 0Y 10%2 48

Noa 4 central sas No Ae vn

Oliver Farm Eq. us Owens Ill Glass

Pac Coast Pac G&EL Pac Tin Cons. Packar

[2114

Pén Pleiffer Brew .. Phila Read C

+H HE

P2010 io Rayohjiet o ret

Sprin Rey

St Jos Jead wee 5

> SHEE LTELE HLL

8vs 8ls 87s rm 3814 16% —— . Union Carb ... 722 e 72% I via a I 133%, 152 . 45%, . 1%

- 3 J = 7a

ob OC Gt SeID EON NT

Sunshine Min.

27%

imk-D Ax ... 20th C-Fox pf. 16%

333%, 22%

Worthington .. 32% 2% + ,

Yellow Tr .... 18% Yellow T pf ....118 1 vies Young Sheet ... 411% 412 + 1:

Zenith Rad ... 18 16 + YW

U. S. STATEMENT

WASHINGTON, Nov. 22" (U, P.).—Government expenses: and receipts for the current fiscal Year, through ov. 19, comExper with a 2 Taal ago: RaDtnacs $3,718, 3% 707. 1 $3,635,893,446.33 . 2,069 854. 3 078,257,996.76 557, oss 449. 3 r 1547.336,899.3 2,249, FE 583. 8

1,547,232,100.22 41,252,291,226.74

17,241,417,167.87 138,867,607.61

41% 16

Cash Bal.. 1,034,472,681.61 Working Bal...... 1,196,140,797.01 Public

D .44,241,360,067.30 Gold Res. .21,686,533,443.54 Customs... 118,857,234.74

INDIANAPOLIS Clearings Debits

CLEARING HOUSE tessssereeess,. $3,972,000 Ceeviivnnesransbanse vreeee. 8,915,000

Chrisimes Trade Is Enacted To Set New Record This Year

NEW YORK, Nov. 22 (U. P.).—America’s 1940 Christmas trade will

, |the four-day week was 102,340 cars

scent from the previous week.

STOCKS STEADY IN LIGHT TRADE

Profit-Taking Whittles Down Early Gains Made in Steel Shares.

NEW YORK, Nov. 22 (U.P) .—| gk Stocks were firm today with volume | Kok

light.

.| Early gains ranging to more than | Munc a point in leading steel shares were

whittled down by profit-taking, but a majority of the list retained advances. Bethlehem and U. S. Steel held gains of nearly a point. Douglas Aircraft, American Telephone and Union Carbide were up more than a point. Several special issues had gains ranging to more than 2 points. Automobile shares were firm on a better than anticipated production report for the week. The total for

and trucks, a decline of 154 per

LOCAL PRODUCE |.

Heavy breed hens. 13c: bareback hens, lic: Lesher hens, 8c; bareback Leghorn hens, 7c: Barred and White Rock springy 3 other colored heavy breed

19 2, 32@32Vic.

WASHINGTON, Nov. 22.—Sales of independent '.retailers in Indiana during October were 8 per cent above October a year ago, the Commerce Department reported today. The report, based on information

[from 1173 stores in most kinds of

business except department stores, also showed that sales the first 10 months this year are 8 per cent above the same period in 1939. Department store sales in Indiana gained 2 per cent over October last year and were 6 per cent higher for the 10-month period, the report showed. Automobile dealers’ showed the largest gain—45 per cent. Heating and plumbing equipment dealers showed a 22 per cent gain and lumber and building materials dealers a 15 per cent increase in sales. Increases of 6 per cent in October were reported by food, general and drug stores. For the 10-month period the sales leaders were predominantly the durable goods lines and furniture stores. In Indianapolis 203 firms reported October sales this year 10 per cent

better for the 10 months. October sales were 6 per cent greater than than in September this year and totaled $2,912,870. Biggest improvement in the state was at Gary where 26 stores reported sales ™ per cent ahead’ of 13st October, 18 per cent better for the 10 months, 13 per cent ahead

ing $199,337.

City 100,000 and Over— Indianapolis Evansville Fort Gar

Firms Oct. ’40 +10 +10 da * +14 + 9

ft eloladid WROD inal = »eeen’

+++]

| WAS VAVANSD dnd +++ + i oud fo

— “IWF CARD BN SD Q

HE) HEE FEL

Ct) hE]

Marion "Less than .05 per cent.

CORN SELLS LOWER; WHEAT UP SLIGHTLY

CHICAGO, Nov. 22 (U. PJ). Wheat futures encountered moder ate opposition on the Board of Trade today and reacted slightly from early fractional gains. Other grains were irregular. At the end of the first hour, wheat was unchanged to % cent higher, Dec. 87% cents. Corn was off % to % cent, oats %4 to 12 cent down and rye off 1 cent. Soy beans were off % to up 1% cents a bushel. WAGON WHEAT

Il India olis grain elevators are paying for Rap heat, 82c¢

c: subject to market a oles grades on their merits. Cash

corn: New No. 4 new vellow shelled corn,

Too(Country picku i wadienter Pp price quoted ‘by the

59¢:

55¢; new No. 4 white shelled corn, No. 2 white oats, 33c

ahead of last October and 8 per cent |!

of September this year and total-| Choice—

0 Sept. ]

against a 5 per cent increase in 1939.

PRIGES ON HOGS RISE 15 GENTS

Extreme Top Hits $6.30 as 12,000 Are Received At Stockyards.

Hogs sold 10 to 15 cents higher at Indianapolis today than they did Wednesday, the Agritultural Marketing Service reported. The market was active after yesterday’s holiday. Hogs weighing 160 pounds or more were up 15 cents, | while lighter weights sold 10 cents higher, Top Repts. ..8 6.25 6.15

Reps lot. 12,25%(19 3600(20 |.... 16,0002 33 1.0;

Nov. Top

5.70~ 5.80

5.65- 5.75 5.60- 5.70 5.50- 5.65 500. 4.75- 5.65 Slaughter Pies Medi 90- 120. 4.50- 5.00 160- 200. Slaughter Cattle & Vealers, Reteirs, 712)

ulls Lord 900. 312 25- 5B sf (Yeartings, exsluged) €00-1100 50-1 .$ 6.76- 7.26 . 195 EO 8.50. 1 25 0. 12. 5- 14.25| Medium. . 5.50- 6.52

9.50-11.50 nd 7.00- 9.50 .00- 7. MON 50-1. wl Wrecder, Stocker cho Steers, Heifers ond (Receipts, 403) 500- 750 11.25-12.50 hole %00.. 9.50-10.25 Gagd—=0 10.00- 11.25) 800-1050.. 9.50-10.25 Heifers (%%0 od 00... 3 Choice . 8.50- 9.50 50- 950 11.00-12.00 ane: -1050.. 8.50- 9.50 u x 500- 1000. . 7.50- 8.50 Na Hr 10.00-11.00 bi A 900 y bis oo 7.50 - alves (steers ag 00 7.50-10, eo oD ere) 500- ot 6.00- 17.50! 0% down 9.25-11.00 Good. . 3 50/ 500~ 900 8.00- 9.25 6.50] 500. down 8.25-10.00 | Calves (heifers) 5.75/Good— 3 Te 4. 18.790 So down 7.00- 8.25

500 own 7.50- 8.75

SHEEP AND LAMBS (Receipts, 3277) Good and choice $9. oo- 9.50 Medium and good 8. Common 8.30: 7.75

00 1100 1300 .

Canner

Yearling Wethers Good and shoice

Medium "Ewes (wodled) Good and choice Common ard medium..........

FOREIGN EXCHANGE

NEW YORK, Nov. 22 (U. P.).—Following are noon cable Tales on major currencies: Cabie Rates et Chg. England (pound) $4.0. Canada (dollar) Htaly lira) ....... Finland (markka) Switzerland Sweden (krona)

7.75- 8.25 7.00- 7.75

6.50- 8.25 3.00- 4.00

—Westfield Village,

;| Year Ago

FT. WAYNE, Ind. Nov. 22 (U.P.). Ft. Wayne's newest community housing project, has attracted national attention with the announcement by the Federal Housing Authority that the Ft. Wayne 120-unit low cost development has broken all cost records for Northern projects with a construction cost of only $1830 a unit. In 1938, the Ft. Wayne Housing Authority first gained national recognition with its use of pre-fab-ricated units for low-cost housing. These pre-fabricated houses could be set up on specially prepared foundations in 24 hours on isolated low-cost lots about the city. 3 Westfield Village conforms more to the standardization idea of community housing. The project will consist of one-story dwellings in twin and row houses situated about a l5-acre park wtih a playground in the center. The units will have concrete slab floorings, frame walls with asbestos siding, sloping frame roofs with asphalt shingles, and plastered interiors. Includes Plumbing Each dwelling will have. a living room, Kitchen with space for dining, one to three bedrooms and storage space. Each unit will be equipped with modern plumbing and electric al conveniences, a gas stove for cooking, and a stove for heating. The record-breaking low cost of $1830 for construction of each unit includes the cost of building the housing units plus plumbing, heating and electrical costs. The cost per unit of the Ft. Wayne project is 15 per cent under the previous low of $2137 per unit achieved by the Armistead Gardens project in Baltimore.

$10.83 Monthly Rent

In addition, the average monthly rent of $10.83 per family in the Ft. Wayne project is substantially lower than the average of $14.28 for all Northern projects, according to the National Association of Hous ing Officials. In making preliminary designs for the propect, the Ft. Wayne authority followed four basi¢ principles. These were: Elimination of non-essentials; standardization of parts and building units: use of simple construction designs calling for material available in local lumber yards, and use of methods of workmanship of local carpenters.

DAILY PRICE INDEX

NEW YORK, Nov. 22 (U. P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Wednesday .... WEEK AZO. vureeacserrnnsees.. 12287 Month AZO ..cveuvenecenseas..12008

frS esse sles sT bE, 117.99 1940 High (Jan. 2) preston fr 10894

Japan (yen) .......... Mexico (peso) .........

1940 Low (Aug. 19)

SATURDAY

EVEN ZIPPER L

Just 422 Garments Regularly 19,15—

ONLY

Suits—Topcoats and Overcoats

INED COATS

INCLUDED

DYNAMIC AFTER-THANKSGIVING

TODAY AND

sete seneastaye 10.971

We're really taking it on the chin! Here are high grade, ALL WOOL suits, topcoats and overcoats that hardly belong even at 19.75 . . . drastically reduced to 15,95, just because they are short lines and broken assortments. Every one is selected from our regular 19.75 stock. Not every size in every style, though all sizes are represented. So rare are these values that TODAY and SATURDAY. are all we can offer them . . . so act fast, men.

Get YOUR pick.

CAPITOL CLOTHES SHOP

10 EAST WASHINGTON ‘STREET |

swell to the largest volume on record, but actual dollar sales are expected to fall short of the 1929 peak because of lower prices, the National Retail Dry Goods Association predicted today. “With more than 95,000,000 Americans celebrating the early Thanksgiving, today officially ushers in what is considered certgin to become, from the standpoint of the actual number of articles sold, the greatest Christmas gift-season in the history. of the nation,” the Association declared. “Dollar sales registered country’s retail stores from THanksgiving to Christmas will, in{ most lines of retail trade, exceed thé, dollar volume of 1930, it is expedied, and come’ within shooting distance of the total sales volume in the boom year Christmas of 1929. “But because retail prices this season are only slightly above a year ago, and considerably under ‘the Christmas 1029 general price level, the physical volume of merchandise exchanged this season will unquestionably be the heaviest on record.”

F. A. LOA o S We:* invite you to: call on us and let us explain fully how you may become a home-owner under this F. H. A. Plan.

Using the department, store field “as a criterion,” the Association said that dollar sales in department, dry

goods, general merchandise and apparel stores may be expected to total $1,350,000,000 during the four weeks from Thanksgiving to Christmas, figured on the basis of an anticipated sales increase of 8 per cent for the four-week period.

ICE SKATES Sharpened 36¢c & $1.00 SPORTSMAN'S STORE

126 N. Penn.

Terms To Suit Average Families

THE UNION TRUST COMPANY

UNION Deposit Insurance Corporation Olden Lo in

eF The CHICAGO

146 EAST WASHINGTON ST

on on Everything! !

Diamonds, amends, Watches, Autos, Cameras, Clothing, Shotguns, Ete.

JEWELRY CO. Ine.

)